29 March 2023, 9.00-9.45 CET

Second conversation: China's Economic Policy Blueprint after the NPC

 

In our second conversation of this second edition of the "Staying in Dialogue with China" webinar series, Markus HERRMANN, Co-Founder and Managing Director, China Macro Group (CMG); (Advisory) Board Member stars, Zurich, will be talking to BAI Chong-En, Mansfield Freeman Chair Professor; Dean, School of Economics and Management, Tsinghua University, Beijing.

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At last year’s consequential 20th Party Congress, CCP General Secretary Xi Jinping reiterated that “development is our Party’s top priority in governing and rejuvenating China”, at the same time the party – against the backdrop of a confluence of domestic and international challenges –  dropped the notion of “important period of strategic opportunity”, now characterizing it as a “period of development in which strategic opportunities, risks and challenges exist at the same time”.

 

To address this new situation, the CCP leadership vows to better balance supply-side with demand-side policies and strengthen domestic demand going forward. As a result, in December, the CCP Central Committee together with the State Council jointly issued the Strategic Plan for Expanding Domestic Demand 2022 – 2035, a new economic blueprint guiding “high-quality development” in the decade ahead. What drives this policy shift? What can we expect from the new government and especially the new economic leadership? What does the government reshuffling mean for economic work? And how likely can China still achieve the goal to double 2020 GDP per capita by 2035?

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About the Speaker

Prof. BAI is Mansfield Freeman Chair Professor and Dean of the School of Economics and Management at Tsinghua University, Beijing, China. He earned his Ph.D. degrees in Mathematics and Economics from UCSD and Harvard University, respectively. Professor BAI’s research areas include Institutional Economics, Economic Growth and Development, Public Economics, Finance, Corporate Governance and Chinese Economy. He is a member of the executive committee of International Economic Association and of the Scientific Council of the Barcelona Graduate School of Economics. Professor BAI is also a member of the National Committee of the Chinese People’s Political Consultative Conference, the “14th Five-Year Plan” National Development Planning Expert Committee, the Chinese Economists 50 Forum, the China Finance 40 Forum, and Chinainfo 100. From 2015 to 2018, he was a member of the monetary policy committee of the People’s Bank of China.

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Kindly note: All webinars of this series are held under Chatham House Rules and will not be recorded.

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